There is nothing about it on Oracle’s website, but it has been rumored for some time: there is a layoff going on at the company. Social media in particular contains reports of (former) employees who are looking for a new job. The British it website The Register scanned the various platforms and speaks of a number of layoffs that are approaching ten thousand.
The layoffs appear to affect a wide range of positions — from analyst relationships to talent acquisition, and from customer relationship management (CRM) to developers. Future ex-employees report that some teams have been completely disbanded, while others have been downsized. Affected employees range from short-term employees to employees with more than 20 years of service. Even from some recently hired employees, oral offers have been withdrawn, with Oracle citing “current economic conditions and internal reorganization” as reasons, The Register reports.
Heard that the total number of layoffs is approaching ten thousand. That would make sense if they want to save a total of $1 billion,” one user wrote on Thelayoff.
In June, Oracle, which employs approximately 140,000 people worldwide, reported revenue growth of five percent in fiscal 2022 to $42.44 billion, which was tempered by a 28 percent decline in operating income. Despite cost savings at the time, “Big Red” invested $28.3 billion in the acquisition of electronic medical records specialist Cerner (28,000 employees).
Stories on LinkedIn
An article has since appeared on LinkedIn that describes how Oracle started firing people. The author draws on various ex-employees who report that they are available for a ‘new experience’.
“Unfortunately, after 23 years, I am part of the layoff that Oracle launched today; as well as many of my talented colleagues,” Reena Miglani writes on LinkedIn. And with her, many have used the platform to look for a new profession. According to the countless reactions, they can count on compassion and the conviction that they will find a job elsewhere. AWS has announced via LinkedIn that it is looking for new employees. Dell and Microsoft have pointed out to Oracle Human Resources that they have many job openings.
Oracle Benelux spokesperson Juliën Harbers reports that he has no substantive comment on the developments.